HI friends, i come across many times with ECONOMIC BENEFITS and ECONOMIC DECISIONS. can anyone explain me with example the above 2 words?

After amendment to AS 11 and Schedule VI on foreign currency transactions involving fixed assets, Can anyone guide me of the treatment of exchange fluctuations for foreign currency loan utilised for purchase of fixed asset from a country outside India? Is gain / loss charged to P/L or adjusted in the carrying cost of Assets?

Please guide.

Can anyone guide me on the following?

A bank guarantee was given by a company which was encashed by the party. Earlier the amount of guarantee was shown as Contingent liability. Though the same is encashed, company is sure to recover the same but this litigation process may take some time. Till the time, do we need to adjust financial records for the amount?

Thanks in advance.

can any one suggest me the best complete book for accounting standards(professional edition and not a student)?

can anybody suggest me how to make a sound accounting for a 'Event Management Company'

we deals in :-
Event Income
Event Expenses
Sponsership Incomes
Payment to Vendors
Indirect expenses of the company

mainly I have a problem in the treatment of :-
Event Income
Event Expenses
Sponsership Incomes

1. "Profit margin and turn over ratios vary from one industry to another" what industry characteristic account for these variations? Give some contrasting examples to illustrate the answer.

2. Paymenton on a long term note payable affects working capital, whereas payment on a short term note payable does not why?

In US subsidiary of Indian parent co.
proposed dividend in US subsidiary
how the treatment of dividend in Indian consolidation

Can anybody help me out for the treatment of IDC (interest during construction) & IEDC (Incidental expenditure during construction) how these to be alloacted & when, on year to year basis or after the completion of projrcts.

CA Krishna Prasad

I have purchased a watchdog for the safety of my property. So, what should be the accounting treatment? Should it be treated as Fixed Asset or Live Stock or deffered revenue expenditure? Please give the reason too. Also, the treatment of charging it to Profit & Loss A/c. Please reply as early as possible on sabir_bavani786@yahoo.co.in
Thank You.

Dear all
Journal entry for discount received is

Party(Creditors) A/c Dr.

To Discount Received A/c

Creditors account is a personal A/c, Personal A/c's principle says
"Debit the receiver, Credit the giver"
Now My question is Why we are debiting the parties A/c?(as per the principle why we are not crediting the same)

Regards
Ravikumar r c
Email:ravikumarrc@gmail.com